Location: Mitchell County, KS | Metro: Cloud County, KS
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $980 | $87,370 | 1.12% | B |
| 3BR | $1,330 | $163,638 | 0.81% | C |
| 4BR | $1,450 | $214,149 | 0.68% | D |
| 5BR | $1,682 | $275,191 | 0.61% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP 67420, located in Beloit, Kansas, Mitchell County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $920. This figure represents the maximum amount that the housing authority will pay on behalf of a tenant under the Section 8 program.
In contrast, the local market rent for a two-bedroom unit in ZIP 67420, according to the Census ACS, is $643. This lower market rate can influence the willingness of landlords to participate in the program, especially if they believe their units are worth more than the local average.
A Section 8 voucher payment consists of two parts: the subsidy paid by the housing authority and the tenant's contribution. The tenant is generally responsible for paying 30% of their adjusted income towards rent. For simplicity, let’s assume the tenant’s adjusted income is such that their 30% contribution equals $180. This would mean the total rent collected from the tenant and the housing authority would be $1,100.
However, the housing authority will only reimburse up to the SAFMR of $920. Therefore, the actual reimbursement to the landlord would be the lesser of the SAFMR or the tenant’s rent plus the subsidy. In this scenario, the landlord would receive $920 per month, not the full $1,100 that might otherwise be expected.
The typical utility allowance for a two-bedroom apartment in ZIP 67420 is around $200. This allowance is additional to the rent reimbursement and helps cover the cost of utilities. However, it does not affect the calculation of the total rent reimbursement.
To summarize, the typical reimbursement gap for a two-bedroom apartment in ZIP 67420 would be the difference between the market rent and the SAFMR. Since the market rent is $643 and the SAFMR is $920, landlords would actually see a surplus of $277 per month when participating in the Section 8 program for a two-bedroom unit. This surplus is the amount above the local market rent that the housing authority is willing to pay, ensuring that landlords are not left financially short due to participation in the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.